Airline shares slid on $90/barrel oil, AMR downgrade

LauraMandaro

SAN FRANCISCO (MarketWatch) -- Airline shares edged down at the open Friday, depressed by yet another record high in oil prices and a downgrade of AMR Corp.
AMR, -3.26%
shares. The Amex Airline Index
lost 0.6% with all but two of 13 stocks in the index trading lower. Shares in American Airlines parent AMR fell 1.2% after Calyon Securities cut its rating on the airline to add from buy, citing seasonality, recent moves in the stock price and increasing competitive pressures internationally. UAL Corp.
uaua
shares managed a small rise. Oil prices topped $90 a barrel in electronic trading but retreated a bit after the start of regular trading. The November oil contract was last down 43 cents at $89.05 a barrel.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.